Swiss gold exports plunge in February as shipments to China collapse

LONDON -- Swiss exports of gold fell to the lowest since at least 2012 in February as shipments to top consumer China all but halted, customs data showed today.

The plunge in trade came as China fought to contain an outbreak of coronavirus by shutting down the movement of people and goods. The virus has since spread worldwide.

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Switzerland -- a major trading, vaulting, and refining centre for precious metals -- shipped 2 tonnes of gold to China in February, down from 17 tonnes in January. The shipments were the lowest since May 2014.

Shipments to Hong Kong fell to just 10 kilograms, the lowest since monthly data became available in 2012, from 23.6 tonnes in January.

In total, Switzerland exported 42.7 tonnes of gold in February, less than half the 87.4 tonnes shipped the previous month. ...

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